$CART · Maplebear Inc.
Maplebear Inc. (Instacart) entered into a definitive merger agreement with DoorDash on October 28, 2026, under which DoorDash will acquire Instacart for $65.00 per share in a deal valued at approximately $17 billion in equity value. Instacart stockholders can elect cash, DoorDash Class A Common Stock, or a mix, with aggregate stock consideration capped at 25% of the total. The transaction has been unanimously approved by Instacart's board and is expected to close in late 2027 or the first half of 2028, pending stockholder approval and regulatory clearances including HSR, Canadian, and Israeli antitrust reviews.
- DoorDash will acquire Instacart for $65.00 per share, an equity value of approximately $17 billion.
- The $65.00 price represents a 26% premium to Instacart's closing price on October 22, 2026.
- Aggregate consideration is at least 75% cash; stockholders can elect cash, DoorDash stock, or a mix, with stock capped at 25%.
- Stockholders holding approximately 19% of Instacart's outstanding shares have agreed to vote in favor.
- The transaction is expected to close in late 2027 or first half of 2028, subject to regulatory approvals including HSR, Canada, and Israel.
Extended-hours trading shows CART at $58.71, +0.50% vs the regular close of $58.42 but -2.28% below the $60.08 price at filing time. The gap between the current price and the $65.00 deal price reflects antitrust and closing-timeline uncertainty given the late-2027 to early-2028 expected close.
The two largest U.S. local-delivery platforms are merging in a $17B deal that reshapes the competitive landscape for online grocery and restaurant delivery against Amazon and Walmart.
This deal combines the two largest independent local-delivery platforms in the U.S., creating a scaled competitor to Amazon and Walmart in online grocery. The combined entity would serve nearly 150,000 stores and offer both restaurant delivery and grocery fulfillment under one membership.
Antitrust risk is material: the deal requires HSR clearance plus approvals under Canadian and Israeli competition laws, with closing not expected until late 2027 or H1 2028. The 364-day bridge loan facility and DoorDash's commitment to maintain investment-grade ratings introduce financing execution risk, though the transaction is not subject to a financing condition.